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It should come as no surprise that a city known for its wealth and glitz has a lot of licenses and permits. Beverly Hills requires all businesses to have licenses and in many cases, requires employees and managers to hold special city-licensed ID cards, particularly in lines of business that are sometimes used as fronts for vice. Along with issuance of licenses and permits, Beverly Hills often imposes significant taxes on local businesses. Although Beverly Hills is known for its largely white collar economy housing companies such as Live Nation Entertainment, Metro-Goldwyn-Mayer, Platinum Equity, John Paul Mitchell Systems and Spark Networks -- the small city also has a thriving oil industry with major reserves being mined underground.